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Switzerland seeks swift completion of free trade agreement negotiations with India

India is Switzerland's second-largest trading partner in Asia, with the volume of trade between the two countries in 2021 amounting to around USD 31.8 billion.

August 10, 2022 / 07:18 PM IST
The Swiss delegation led by Federal Councillor Ueli Maurer (centre) met FM Nirmala Sitharaman (Image: Twitter/@FinMinIndia)

The Swiss delegation led by Federal Councillor Ueli Maurer (centre) met FM Nirmala Sitharaman (Image: Twitter/@FinMinIndia)


Switzerland's Federal Councillor Ueli Maurer, in a meeting with Indian Finance Minister Nirmala Sitharaman in New Delhi on August 10, sought swift completion of negotiations over the free trade agreement between the two countries.

The Indian Ministry of Finance said the two leaders exchanged views on global economic issues and India’s upcoming G20 presidency in 2023.

"Both sides discussed areas for enhanced cooperation, including on fintech, automatic exchange of information, renewable energy, sunrise sectors as well as infrastructure investments and sustainable finance," it said.

The Swiss Federal Department of Finance, in its statement, noted that Maurer "advocated rapidly completing the negotiations on an EFTA free trade agreement with India".

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"Maurer promoted open markets and emphasised that stronger trade has a positive impact on a country's prosperity in the long term", the Swiss government's statement added.

The visiting top Swiss official also met External Affairs Minister S Jaishankar. Their discussion was "centered around identifying potential ways for the two countries to cooperate more closely in the future, and learning more about the Indian financial market, especially in the area of sustainable or green infrastructure and fintech", it further said.

India is, notably, Switzerland's second-largest trading partner in Asia. The volume of trade between the two countries in 2021 amounted to around USD 31.8 billion, as per the figures shared by the Swiss government.
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